SoftBank Sprint, Far EasTone and TBCASoft have announced the launch of a new blockchain consortium, the Carrier Blockchain Study Group (CBSG), aimed specifically at telcos to enable cross-carrier payments and other blockchain-based services.
In February 2017, SoftBank, Sprint and TBCASoft agreed to cooperate in jointly developing blockchain technology for telcos, and commenced a technical trial that connects TBCASoft’s blockchain platform to telecom carriers’ systems. That cooperation has blossomed into a consortium now that FarEasTone has joined in, with the aim of building a global cross-carrier blockchain platform and ecosystem that connects operators’ backend systems.
The system promises to eliminate late transactions or transaction failures between telcos, which can significantly improve existing business operations as well as enable various business opportunities for telcos, the CBSG consortium said in a statement.
CBSG will promote research and development for the platform with the aim of providing users with various services such as secured clearing and settlement, personal authentication, IoT applications, and other services in the future.
CBSG will soon be inviting operators worldwide to participate and define the requirements of the cross-carrier blockchain platform. The consortium will also function as a working group for members to resolve issues related to technology, business and regulations of various jurisdictions.
Meanwhile, SoftBank, Sprint and TBCASoft also announced they had succeeded in demonstrating a cross-carrier payment platform system that uses TBCASoft’s blockchain technology.
The demo included cross-carrier top-ups for prepaid accounts, mobile wallet roaming, international remittances and IoT payments.
TBCASoft says its blockchain technology enables a highly secure and versatile global blockchain platform system that can be operated 24/7 at low cost, and can be integrated with telcos’ existing systems.